The harmonised consumer price index /HICP/ rose by 0.2% MoM in January after a 0.3% monthly increase in December. The increase was due mainly to the 1.6% MoM rise of prices of food and non-alcoholic drinks, which have the largest weight in the index while the prices of clothing and footwear have declined by 2.7% and the prices of housing and utilities have declined by 0.8% MoM.
On an annual basis HICP was up 2.6% in January, while compared to the previous 12 months, the average annual HICP for the period Febr 2012- Jan 2013 was 2.4%.